ΚΑΛΑ ΡΕ ΜΟΣΚΟΒΙΣΙ, ΣΚΑΙ ΔΕΝ ΒΛΕΠΕΙΣ; Moscovici: Greece needs no ‘precautionary credit line’ but own growth strategy

ΟΣΟ ΤΑ ΟΡΦΑΝΑ ΤΟΥ ΣΚΑΙ ΣΚΟΥΖΟΥΝ ΟΤΙ ΚΑΤΑΣΤΡΕΦΟΜΑΣΤΕ
EA1FF81A-351C-4C75-B9BA-7530AB570733Greece will not need a precautionary credit or anything that looks like a forced programme after it exits the bailout, and any new surveillance should treat Greece “as a normal country”, EU’s Economic and Monetary Commissioner Pierre Moscovici said on Wednesday (14 February).
Speaking at a EURACTIV event on the future of European Economic and Monetary Union, moderated by business editor Jorge Valero, Moscovici firmly opposed any scenario of a “forced” program for Greece after the much-awaited exit from the current bailout this summer.
Asked whether Greece will need a “credit line” at the end of the program, Moscovici replied “no”.
“There must not be anything that looks like a forced programme in Greece. This precautionary line programme is not needed. We need to have a post-programme surveillance but this has to be a surveillance of a normal country, a normal member of the Eurozone with full rights and full duties, of course,” Moscovici emphasised.
His comments are at odds with the repeated calls for a “precautionary credit line” after the end of the bailout by Bank of Greece Governor Yannis Stournaras.
According to the central bank chief, a precautionary credit this would help boost investor confidence and drive borrowing costs down, although such a framework would probably come with new conditions for the country.
The Greek government does not share this view and instead backs a “clean break” from lenders.
 
 

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